Calculating the USD Value of 100T ZIM Bond in RZB Digital Gold-backed Tokens
Once Zimbabwe’s currency is stabilized, will the RZB eventually open their Golden ZIM Token for exchange internationally?
More specifically, will all of us legal owners of 2008 AA Series ZIM Bonds be able to redeem our bonds 1-to-1 for Gold-backed ZIM digital tokens at its current (or future) value?
Doing the math (based on published Gold Token value data from the Reserve Bank of Zimbabwe May 12th, 2023):
A 100T ZIM bond will buy the equivalent of 991.375 billion milligrams of gold (purchased in ZIM digital gold tokens)
Current valuation of gold set by RZB is equivalent to $0.0688 USD/mg (according to actual source data from Reserve Bank of Zimbabwe).
This means a 100T ZIM bond would be worth approximately $68 Billion (current) US Dollars in gold-backed digital ZIM token value (if redeemed 1-to-1).
Well ok then… When do we redeem?!!
Does Zimbabwe have access to that much gold (or equivalent gold certificates)?
Right now they don’t. Or do they?